- The Limestone Boat Company (BOAT) has closed the first tranche of its brokered private placement for gross proceeds of approximately $2.6 million
- The company issued 10,851,334 units at a price of $0.24 per unit
- The company may close one or more additional tranches of the placement
- The Limestone Boat Company Limited is the builder of Limestone, Aquasport and Boca Bay brands
- The Limestone Boat Company Limited (BOAT) opened trading at C$0.22 per share
The Limestone Boat Company (BOAT) has closed the first tranche of its brokered private placement for gross proceeds of approximately $2.6 million.
The company issued 10,851,334 units at a price of $0.24 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole purchase warrant entitles the holder to purchase one additional share at a price of $0.32 for a period of 24 months from the date of closing.
The net proceeds will be used for general working capital purposes.
The placement was led by Beacon Securities Limited, acting as agent. The company paid a cash commission of $180,622 and issued 752,593 compensation options to the agent.
The company may close one or more additional tranches of the placement.
The securities issued are subject to a statutory hold period of four months. The warrants will not be listed on any exchange.
Headquartered in Collingwood, Ontario, The Limestone Boat Company Limited is the builder of Limestone, Aquasport and Boca Bay brands.
The Limestone Boat Company Limited (BOAT) opened trading at C$0.22 per share.